Short Sale Approaches

Where are all the buyers?

Rob Miller — Thu, 10 May 2007 14:53:00 GMT

Well it seems conditions are favorable, so why is the market so slow? The feds just held rates again at 5.25%. This rate has not changed since June 06. Unemployment is still low. Housing prices have dropped to reasonable prices and the economy is doing pretty well. Here in southern California we have had about a 5% increase in home prices. Buyers actually have some choices out there. Aren't these favorable conditions for buyers? Did they just get use to the 20-30% increase in homes from 2003-2005? Don't they realize that was an abnormal market? This market is pretty much the norm. What's your opinion? Looking forward to hearing from everyone.

Tax Lien Sales

Rob Miller — Tue, 01 May 2007 02:16:00 GMT

I just want to get some feedback on tax liens. Any feedback very much appreciated.

I have a client who wants to bid on tax liens here in Southern California. I am trying to find out as much info as possible. The bid price is starting at say $10,000. If that property is won at say $15,000, is that actually all that we pay for the property? What about the loans ( 1st & 2nd) or the mechanic liens, child support etc.? Do they just get attached to the previous owner or are they still attached to the property? Is my clients new home free and clear of all liens? Need some enlightenment, never dealt with tax liens. Thanks...........

Short Sale Approaches

Rob Miller — Tue, 10 Apr 2007 03:22:00 GMT

I just went to a class on short sales and found it very informative. I found out how the process works and received contacts to investors. The only thing that we did not receive any info on was how to approach these potential clients that received NOD's. My past experience is that these people get very upset at us and don't like to speak with us much. They have the perception that we are all going after their equity and are going to rip them off, so I haven't really hit on these much overthe past few years. If anyone has some ideas on how to approach NOD clients without them feeling like we are taking advantage of them, please shoot some ideas this way. Looking forward to hearing from you all.